SCHEDULES

SCHEDULE 12 U.K. Reallocation of chargeable gain or loss within a group

Consequential amendments U.K.

2 U.K. In section 179A of TCGA 1992 (reallocation within group of gain or loss accruing under section 179), for subsection (5) substitute—

“(5) An election, or two or more elections made simultaneously, is or are of no effect if, taken together with each earlier election (if any) made in respect of the same gain or loss, it or they would (apart from this subsection) have effect in relation to an amount exceeding the gain or loss.”

F1 3 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 12 para. 3 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

4 U.K. In consequence of the amendment made by paragraph 1, omit—

(a) in FA 2000, section 101,

(b) in FA 2001, section 77,

(c) in FA 2003, in Schedule 33, paragraph 17, and

(d) in F(No.2)A 2005, section 36.